Page 17 - GEORptFeb19

soared to ninth place on the latest Doing Business index — “political instability remains a significant challenge for firms”.
4.4.2 Retail sector dynamics
Retail sales rises at a slower rate of 12% y/y in 3Q18
Retail sales in Georgia increased 12% y/y in the third quarter of 2018, easing from the 16.4% y/y rise in the previous quarter, according to CEIC data.
In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn last year. Retail sales, which has been growing at a strong double-digit pace for several years, grew by only 8-9% in 2015-16 as wage growth slowed and unemployment rose.
Retail sales y/y in Georgia averaged 16.5% from 2000 to 2018.
17 GEORGIA Country Report February 2019 www.intellinews.com